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organizing a warehouse for safety
Reasons You Should Rent Your Next Forklift
Sam Gomez
As a small business owner, are you trying to decide whether or not to buy the equipment you need? Did you know that there are benefits to renting versus purchasing? If you need a forklift, here are some reasons you should rent instead of buying:
Flexibility: Forklift rental allows you to choose the right forklift for each particular task. For example, one week, you need to move compact loads because you're rearranging the shelves in your stockroom. A small forklift with a tight turning radius can efficiently move your stock around in the limited confines of your warehouse. The next week, you need a larger one to unload construction materials from a semi-truck, at a work site with rough terrain. Choosing an outdoor forklift with pneumatic tires will ensure that it has the traction it needs so that you don't have to worry about the forklift slipping in the dirt or mud. Forklift rental allows you to select the equipment that's best-suited for your projects, without having to buy an inventory of forklifts in various styles and models.
Better financial liquidity: Instead of having to invest your capital in equipment, you can rent a forklift as needed at a fraction of the cost of purchasing one. This will keep more business equity on the books because you won't be obligated to make a monthly payment. Renting as needed can free up your working capital, in case you need it to purchase materials or supplies for your business. It can also improve your ability to borrow additional funds, because lenders will see that you have one less liability or debt in your company's name.
Customized terms: Unlike a purchase agreement, if you decide you no longer want the forklift, then you don't have to pay penalties to end the contract. You can choose to rent short-term, just for one job, or long-term, in case you have several projects lined up. You can also rent the most modern forklift available, instead of owning one that becomes more obsolete each year.
More jobs: Renting the appropriate forklift for each job will allow you to be free from worrying about losing out on work because you don't have the right equipment. You no longer have to turn away job offers because renting will allow you to have the right equipment when you need it. You can bid on a contract, and not have to pay for the rental until the deal is signed. Once you're hired, you can then decide what forklift will work best for the task.
Talk to experts like Vantage Equipment for more information.
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